Faisal Durrani

Yes, that's right.

Good morning, Craig.

Great to be back on the show.

I mean, one of the things that we do track as a business is where our buyers are coming from for residential real estate in Dubai.

This data used to be available from the Dubai Land Department where it was published across the entire city.

However, we no longer have access to that.

So all we can do is look at sales that we have done as a business.

And last year, 55% of Knight Frank's residential real estate buyers in the UAE came from the UK and Europe.

21% of them from the EU, excluding Germany, and 10% from Germany itself.

So what's quite interesting is whilst we always expect to see countries like the UK, India, or Egypt, for instance, kind of jostling for pole position here,

we have started to see over the last year or two much higher levels of interest from buyers from the EU broadly and Germany specifically so yes that definitely is a trend of rising interest from that part of the world yeah

Of course.

I mean, look, the residential market in Dubai has enjoyed a price bull run for more than five years now.

And at this late stage in any cycle is when you'd start to see a tapering off in that rate of growth.

We're not suggesting that we're approaching any sort of cliff edge moment when it comes to price increases, notwithstanding any sort of global black swan event that we're not able to foresee.

But this is the time when you would expect the rate of increase to slow.

And look, domestically speaking, the UAE economy is in a very healthy position.

We've just seen some new figures come out from the government of Dubai for economic growth in the 12 months to the end of September and GDP rose by almost 5%, which is pretty strong.

It's healthy.

It tells us that jobs are being created.